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  • FIRST POST
    • onedaysomeday
    • By onedaysomeday 9th Jan 18, 11:29 AM
    • 9Posts
    • 35Thanks
    onedaysomeday
    Debt Free This Year (is the plan...)
    • #1
    • 9th Jan 18, 11:29 AM
    Debt Free This Year (is the plan...) 9th Jan 18 at 11:29 AM
    Hi everyone!

    Been browsing this site since about November last year, keen to make this year the year that my finances are well and truly sorted. I guess my 'lightbulb' moment was realising that I'm in a serious relationship now and if I have any hope of getting a mortgage one day and living a comfortable lifestyle then I need to get my stuff together!

    I've been fortunate enough that between my boyfriend and my nan I was able to borrow £1,500 to pay off some of my more immediate and expensive debts, and have repayments plans in place for the rest of them. I have no savings and a poor credit record (naughty behaviour from a few years ago with payday loans, credit card, nothing new or original or particularly clever)

    My current debts stand at :
    CC - £668 (subprime this will take some work)
    Old debts being repaid monthly (total) - £1972
    Natwest O/D on closed account - £534
    Loan to SO - £1,000
    Loan to Nan - £500

    I pay a minimum of £125 in debt repayments with extra paid where possible from leftovers at the end of the month (the leftovers is what I am going to work on)

    I have set myself up a nifty little spreadsheet that looks at how much I pay out each month, how much comes in each month and gives me the total, I then have sections that factor in how much I would need to spend on anyone's birthdays and a column to total other expenses I pay (i.e. additional purchases in shops or payments to savings). If updated properly it will leave me with a running total I have leftover throughout the month (and open my eyes about where I am spending my money) and it also shows which payments are still waiting to go out under my outgoings too.

    I have already taken a serious look at where I am wasting money (£5-£10 a day at work in lunch and coffee for example as I work in the town centre and the Uber's where I'm too lazy to get out of bed on time in the morning or not in the mood to walk when the weather is a bit rubbish (it's only a 15 minute walk for me most places)

    Anyway, this diary is here to hold me accountable and so I can see my debts going down!
Page 1
    • onedaysomeday
    • By onedaysomeday 9th Jan 18, 11:43 AM
    • 9 Posts
    • 35 Thanks
    onedaysomeday
    • #2
    • 9th Jan 18, 11:43 AM
    • #2
    • 9th Jan 18, 11:43 AM
    Probably should have done some kind of listing as to the things I've done so far this year, actually done, to improve my situation

    - Paid off a CCJ so that it can now be satisfied
    - Cancelled 'luxury' subscriptions such as Glossybox, Audible, Kindle Unlimited, etc
    - Finally got around to emailing Amazon about a student prime membership which means 6 months free prime then £3.99 a month as opposed to £7.99 a month
    - Paid for a railcard to save money for the frequent train journeys I make to see my SO
    • onedaysomeday
    • By onedaysomeday 9th Jan 18, 4:01 PM
    • 9 Posts
    • 35 Thanks
    onedaysomeday
    • #3
    • 9th Jan 18, 4:01 PM
    • #3
    • 9th Jan 18, 4:01 PM
    So after a lot more mooching around on the website this afternoon, I have decided on a few more habits to adopt this year. I will be getting a sealed tin and putting all of my loose change over 5p coins into it, and just letting it fill up for the year. I also have a mason jar full with pennies and 5ps so every now and then I will empty this and count it up, then change it for money to put into the other jar - not that I know where I can change copper into silver or gold coins
    • onedaysomeday
    • By onedaysomeday 10th Jan 18, 9:42 AM
    • 9 Posts
    • 35 Thanks
    onedaysomeday
    • #4
    • 10th Jan 18, 9:42 AM
    Wednesday 10th
    • #4
    • 10th Jan 18, 9:42 AM
    Morning everyone!

    Today will not (unfortunately) be a NSD as I have a track session with the running club tonight and we have to put a small amount towards it, but I'm happy to pay the £3.00 for something that will keep me entertained and busy for an hour or so and is good for my health! It's only once a month too so it's hardly a major expense.

    The plan of action for today is to move my stuff home from having been flat sitting for the past 2 weeks, go running, come home and have dinner from whatever is in the freezer and then sort through my pot of change and see what I have got to put into the bigger pot! I also know I've got at least £1.00 in change sitting on the side at work so that will either go towards my track fee for tonight or into the big change pot at home
    Old Debts Starting Balance Jan'18 £1972 / Current Balance £1972
    CC Starting Balance Jan'18 £668 / Current Balance £668
    Overdraft Starting Balance Jan'18 £534 / Current Balance £534
    SO Loan Starting Balance Jan'18 £1000 / Current Balance £1000
    Nan Loan Starting Balance Jan'18 £500 / Current Balance £500
    • onedaysomeday
    • By onedaysomeday 10th Jan 18, 9:46 PM
    • 9 Posts
    • 35 Thanks
    onedaysomeday
    • #5
    • 10th Jan 18, 9:46 PM
    • #5
    • 10th Jan 18, 9:46 PM
    Well, today ended up being a NSD after all as track got cancelled so saved £3 there! Plonked it in my sealed pot and counted up the very small change in my other pot and have a total of around £13 so far! Just need to work out how to change it all in to bigger coins now
    Old Debts Starting Balance Jan'18 £1972 / Current Balance £1972
    CC Starting Balance Jan'18 £668 / Current Balance £668
    Overdraft Starting Balance Jan'18 £534 / Current Balance £534
    SO Loan Starting Balance Jan'18 £1000 / Current Balance £1000
    Nan Loan Starting Balance Jan'18 £500 / Current Balance £500
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